61 h. ago US business leaders eye Hong Kong as ‘springboard’ to mainland China, Asia

American business leaders are looking to use Hong Kong as a “springboard” for tapping markets in China and Asia despite geopolitical tensions amid a wider reassessment of the mainland’s technological innovation, the city’s finance chief has said. Reflecting on his trip to New York and Washington last week, Financial Secretary Paul Chan Mo-po also said on Sunday that his exchanges would “lay the foundation” for further cooperation with the United States, even as Hong Kong got caught up in the...

Politics

3 d. ago Hong Kong to navigate trade war with supply chains, says Paul Chan in US

Hong Kong will adjust to navigate lingering geopolitical tensions, welcoming new growth in supply chains, financial services and innovation, the finance chief has vowed while promoting the city’s opportunities in the United States. Financial Secretary Paul Chan Mo-po made his remarks at the end of his first in-person visit to Washington since 2019, as a fresh phase of the US-China trade war looms, with Hong Kong caught in the rivalry. “Geopolitical tensions will continue to be there for quite...

Events

3 d. ago Hong Kong to navigate trade war with new strategies, Paul Chan says in US

Hong Kong will adjust to navigate lingering geopolitical tensions, welcoming new growth in supply chains, financial services and innovation, the finance chief has vowed while promoting the city’s opportunities in the United States. Financial Secretary Paul Chan Mo-po made his remarks at the end of his first in-person visit to Washington since 2019, as a fresh phase of the US-China trade war looms, with Hong Kong caught in the rivalry. “Geopolitical tensions will continue to be there for quite...

Events

3 d. ago Hong Kong will navigate trade war with new strategies, Paul Chan says in US

Hong Kong will successfully navigate protracted geopolitical tensions, serving as a supply chain hub while providing financial services and innovation, the finance chief has said after a visit to the United States where he promoted the city. Financial Secretary Paul Chan Mo-po offered the upbeat assessment in an interview with the Post at the end of his first visit to Washington since 2019, with a fresh phase of the US-China trade war looming and Hong Kong caught up in the rivalry. “Geopolitical...

Events

6 d. ago Invest and expand in Hong Kong, Paul Chan tells US firms despite trade tensions

Hong Kong’s finance chief has called on American businesses to invest in the city as he begins his latest visit to the country, even as global concerns grow over the possible re-escalation of the US-China trade war. The government on Wednesday said that Financial Secretary Paul Chan Mo-po arrived in New York the previous day and attended the annual gala dinner of the National Committee on United States-China Relations (Ncuscr), a non-profit organisation that promotes understanding between the...

Economics

9 d. ago Hong Kong’s Paul Chan to attend IMF, World Bank meetings in Washington

Hong Kong’s finance chief will attend the annual meetings of the IMF and the World Bank in Washington for the first time since 2019, despite a dramatic re-escalation of trade tensions between the United States and China. Financial Secretary Paul Chan Mo-po said on Sunday that aside from the two meetings, which he will attend as part of China’s delegation, he would join other events to promote the city’s strengths and development efforts while also addressing “topics of concern”. In a weekly blog...

Politics

9 d. ago Hong Kong’s Paul Chan to attend IMF, World Bank events in US, a first since 2019

Hong Kong’s finance chief will attend the annual meetings of the IMF and the World Bank in Washington for the first time since 2019, despite a dramatic re-escalation of trade tensions between the United States and China. Financial Secretary Paul Chan Mo-po said on Sunday that in addition to the two meetings, which he will attend as part of China’s delegation, he would join other events to promote the city’s strengths and development efforts while also addressing “topics of concern”. In a weekly...

Politics

1 week ago Digital IP protector from US among 18 firms expanding in Hong Kong under OASES

A US-based Emmy Award-winning digital content protection firm is among the latest batch of strategic enterprises that will open offices or expand in Hong Kong, seeking to leverage the city’s creative talent and accelerate its intellectual property (IP) development. Financial Secretary Paul Chan Mo-po said the Office for Attracting Strategic Enterprises (OASES) has brought in 18 more firms to establish offices or expand in the city. With their addition, the total number of OASES enterprises would...

Politics

2 w. ago Tourism rebound driving retail recovery in Hong Kong, finance chief says

Hong Kong’s strong tourism rebound has driven a steady recovery in retail sales and the government will keep up the momentum with a packed calendar of mega-events for the rest of the year, the finance chief has said. Financial Secretary Paul Chan Mo-po also said on Sunday the government would work with different sectors to attract more visitors and encourage them to stay longer to maximise the economic benefits of mega-events. Writing on his weekly blog, Chan noted that retail sales in August...

Politics

3 w. ago Hong Kong speeding up financial market reforms with focus on resilience: Paul Chan

Hong Kong is accelerating reforms of its financial market by making the sector’s ecosystem more resilient and comprehensive, a minister has said, as the city grapples with geopolitics and a rapidly changing technology-led global landscape. Financial Secretary Paul Chan Mo-po also said on Sunday that Hong Kong would take a two-pronged approach by strengthening its advantages and diversifying the financial market to contribute to the wider nation’s development into a financial powerhouse. The city...

Economics

3 w. ago Hong Kong must tread cautiously in its Saudi business dealings

As it recovers from the Covid-19 pandemic, Hong Kong desperately needs new trading partners and new markets. The government has been building bridges to the Arab world, and in particular, Saudi Arabia. Chief Executive John Lee Ka-chiu, Financial Secretary Paul Chan Mo-po and West Kowloon Cultural District CEO Betty Fung Ching Suk-yee have led delegations to Riyadh, promoting commercial and cultural exchange. Lee is pushing for the creation of an economic and trade office in Riyadh. Meanwhile,...

Economics

last month Hongkongers to enjoy ‘dividends’ of Northern Metropolis, John Lee promises

Hong Kong residents will enjoy the “dividends” of the Northern Metropolis, the city leader has said, while vowing to use investment and preferential measures to accelerate the megaproject’s development amid a budget deficit. Chief Executive John Lee Ka-chiu made the pledge on Sunday as his innovation minister said he believed that several companies joining the initiative would enjoy preferential land prices this year. Lee also urged his finance chief, Paul Chan Mo-po, to manage the government’s...

Politics

last month Hong Kong’s Paul Chan banks on better market sentiments as sectors stabilise

Hong Kong’s finance chief has anticipated improving market sentiments after downward trends in the retail, catering and property sectors show signs of stabilising, and the prospect of an interest-rate cut cycle emerging. Financial Secretary Paul Chan Mo-po said on Sunday that authorities had been paying attention to the slow recovery of the retail and catering industries, even as the stock market proved to be robust, noting that their declining sales figures had stabilised over the past three to...

Economics

last month Hong Kong’s Paul Chan banks on better market sentiment as sectors stabilise

Hong Kong’s finance chief has anticipated improving market sentiment after downward trends in the retail, catering and property sectors showed signs of stabilising, with the prospect of an interest rate cut cycle emerging. Financial Secretary Paul Chan Mo-po said on Sunday that authorities had been paying attention to the slow recovery of the retail and catering industries, even as the stock market remained robust, noting that their declining sales figures had stabilised over the past three to...

Economics